Globalization Is Inevitable
April 6th, 2007
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In an article in the Wall Street Journal, David Wessel warns,
The issue, in this light, isn’t whether trade makes the world as a whole richer. It does. The issue is the distribution of those gains. If American workers sense they are at risk of being losers –– even if those fears are overstated or ignore the benefits they get from imports as consumers –– the political consensus for encouraging further globalization will evaporate.[link]
The debate over the benefits of globalization has gone on for a long time and no quick solution on view. The debate has only sharpened after respected economist Alan Blinder recently warned that a lot of White collar jobs could be potentially outsourced.
Keeping aside such concerns, the crucial question is: what exactly can the American government do to prevent globalization? American economy is far more integrated into the world economy than say the Indian economy. Everytime, an American shops at Walmart (and millions do every day) he is reaping the rewards of globalization and free trade. From computers to banking, there is little which has been left untouched by globalization. Also, it would be far more difficult for the American government to control their corporations without falling foul of the constitution.
Yes, there is little doubt that some jobs would be lost due to globalization. The answer is for the average American to leverage his advantages, starting right from the best higher education system in the world. There is no other alternative.
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